Airlines around the world have grounded large proportions

of their fleets and announced plans

to lay off thousands of staff as they attempt

to survive a shutdown of international travel

amid the widening coronavirus pandemic.

Over the course of this week, the outlook for the aviation

sector has darkened further.

Air travel has come to a virtual halt across the globe,

particularly in Europe, as governments have imposed travel

bans and lockdowns as they look to contain

the spread of the virus.

According to the International Air Transport Association,

the global airline trade body, the coronavirus pandemic

now covers markets which represent as much as 94

per cent of global passenger revenues.

On Monday more than 14 airlines announced new measures

to slash costs, with some reducing the number of flights

by as much as 90 per cent.

But by Wednesday, Ryanair, Europe's largest

low-cost airline, warned it expected to ground almost all

of its entire fleet by Tuesday.

The severity of the crisis has prompted carriers

to turn to governments for a lifeline.

The global airline industry has said

it will need up to $200bn in emergency support

as it faces a cash crisis in the face of a global lockdown.

The industry's trade body has warned

that the majority of airlines face

running out of money within two months, pointing to the fact

that a large number of carriers globally are highly leveraged.

Only about 30 airlines have driven the improvement

in profitability seen in the airline industry

over the last 10 years.

The UK, US, France, Italy, Norway, the Netherlands,

Russia, and others have all indicated

they would provide support measures, ranging

from low-cost loans to tax breaks

for the struggling airlines.

But while many countries are likely to offer

financial support, the question will

be how many carriers will still be

able to survive the shutdown in air travel,

particularly as no one knows when this will end.

And once it does end, just how quickly

will travel demand return?